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Password Managers Go Mainstream and Reveal Need for C-Suite Driven Security Consistency

·4-min read

IT decision makers rely on tools that allow them to work faster, safely, but gaps remain in adhering to security best practices

SANTA BARBARA, Calif., November 30, 2021--(BUSINESS WIRE)--Bitwarden, the leading open source password manager for businesses and individuals, today announced the results of its 2022 Password Decisions Survey. The survey, which polled over 400 U.S. IT decision makers across a wide range of industries, shows that password managers are a near-defacto standard for organizations, with 86% reporting they are being put to use. This reflects a 9% increase in the use of password managers over the past year.

Despite the popularity of password managers, security gaps remain. Similar to last year’s survey, respondents continue to rely on unsecure methods, such as computer documents (53%) and pen and paper (29%), to manage passwords. And in a year marked by high-profile cyberattacks and increasing vulnerabilities posed by remote work, almost all (92%) of respondents reuse passwords across multiple sites. These results point to the need for consistent C-Suite-driven security protocols that take into account a desire for efficient, easy-to-implement solutions, employee turnover, and the challenges of a remote-centric workplace.

Many Organizations Remain Unprepared for Cyberattacks Despite High-Profile Breaches

Over half (54%) of IT decision makers admit their organization has experienced a cyberattack. This may not come as a surprise when considering the parade (Colonial Pipeline, Solar Winds, and the New York City Law Department, to name a few) of recent high-profile breaches. While two-thirds of organizations have a ransomware mitigation strategy in place, 25% do not have one or are not sure - a disconcerting percentage given the success of ransomware attacks over the past few years.

Remote Work and the Great Resignation Raise Concerns Over Increasing Security Risks

Remote work has created security unease: almost two-thirds (61%) of respondents are "more concerned" about cybersecurity this year and attribute this to the fear that employees working remotely may be more lax about their overall security hygiene. The Great Resignation hasn’t spared the world of IT decision makers. Almost half (48%) are working more hours than last year, with 58% faulting turnover (29%) and difficulty hiring (29%) as the primary culprits.

IT Decision Makers Resort to Unsecure Methods for Password Sharing

When it comes to password sharing, the death of email is greatly exaggerated - and that’s a problem. Over half (53%) of IT decision makers share company passwords with colleagues through email, a 14-point jump from last year. Almost half (41%) share passwords via chat, while 31% share passwords in conversation.

Methodology and Full Survey Results

The survey, conducted independently by Propeller Insights, surveyed over 400 U.S. IT decision makers on their workplace password practices and perceptions about password security and overall cybersecurity.

"Our 2022 survey offers a number of takeaways," said Bitwarden CEO Michael Crandell. "To start, password managers are clearly viewed as highly effective. If you’re not using one - and the survey showed there is still room for growth - you’re way behind. It’s also clear that overall password practices are a mixed bag. Everyone knows sharing passwords via email isn’t a great idea, and yet it’s still happening. Ultimately, the C-Suite should prioritize finding better ways to do business faster and safely. It will set a positive tone and alleviate some of the security anxieties that are so clearly present."

For complete survey details, download the full report.

Password Security for All

Try Bitwarden as an individual across all of your devices for free, or upgrade to the Bitwarden Premium Account for just $10/year at https://bitwarden.com/pricing/.

To enable your workplace, start a free 7-day trial for business plans at https://bitwarden.com/pricing/business/.

About Bitwarden

Bitwarden empowers organizations and individuals to safely store and share sensitive data. With a transparent, open source approach to password management, Bitwarden makes it easy for users to extend robust security practices to all of their online experiences — no matter their location or device. Cloud and self-hosted options give customers the flexibility to meet the most stringent security requirements. Bitwarden is available in nearly 40 languages with a passionate global community of security experts and enthusiasts. The company is headquartered in Santa Barbara, California and has a globally distributed team. Learn more at bitwarden.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005301/en/

Contacts

Rick Judge
bitwarden@libertycomms.com

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